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It may have a reputation as the digital currency of choice for some unsavoury online deals, but Bitcoin is about to become more mainstream. Gamers and phone owners can use the currency to buy Xbox titles as well as apps for devices running Windows Phone. While no official announcement has been made, Microsoft has created a webpage that explains how the currency can be used to top up a Microsoft account. Xbox games as well as apps for Windows Phones. We’ll look to possibly expand the program in the future, but have nothing further to share at this time. Does zapping to boost brain power do more harm than good?
Is this the final nail in the wallet’s coffin? Microsoft is the latest large company to adopt the digital currency, which is becoming increasingly mainstream. Customers can already use it to pay for goods via Paypal, Dell and Expedia, among others. The move has been greeted enthusiastically by many Bitcoin users. Bitcoin operates as a two-way currency which can be exchanged for dollars, and vice versa.
The notion behind it is to facilitate cheap, anonymous transactions policed by its community of users and is built around trust rather than relying on institutions like governments or banks. Bitcoin’s status as a digital currency is debatable. It is entirely a digital product but is not regulated and it has a limit of 21million, which is predicted to last until 2140. The finite nature of Bitcoins means it performs more like a commodity, such as gold. Bitcoin first emerged in 2008 and launched as a network in 2009. It was created by a hacker whose identity is a mystery, but is known as Satoshi Nakamoto. This is thought to be a pseudonym for the person or group who created it.